đź“· President Ferdinand Marcos Jr. | CNA
AMID what is more like a superficial inflation, President Ferdinand Marcos Jr. seemed inclined on seeking a whopping P6.2 trillion national budget to defray infrastructure projects under his “Build Better More” slogan.
According to House Speaker Martin Romualdez, the President is looking at P500 billion more than the current year’s operating budget, even as he assured the Palace that members of the House of Representatives will be engaged in a discussion as to how to go about it when sessions resume on July 22 which coincides with Marcos’ third State of the Nation Address (SONA).
Even without a spending plan which is usually attached to the Department of Budget and Management’s proposed National Expenditure Program, administration allies at the lower house expressed willingness to work extended hours to ensure the passage of what Romualdez described as the heaviest and biggest legislation for the upcoming fiscal year.
The proposed budget for 2025 represents a 7.5 percent increase or P432.4 billion more than this year’s General Appropriations Act (GAA) allocation of P5.768 trillion, which in itself now stands as the largest ever approved by Congress.
Provisions under the 1987 Constitution provide that the President has 30 days from the opening of each regular session to submit his budget proposal to the legislative body.
National Economic and Development Authority Secretary Arsenio Balisacan for his part said that Marcos’ request for a P6.2 trillion expenditure program which will be focusing on “high-impact and transformative public infrastructure projects and essential social services,” represents 21.4 percent of the country’s gross domestic product (GDP).
He specifically identified Marcos’ Build Better More program as a major component behind the humongous amount that the government wanted to spend at the onset of the next fiscal year.
Meanwhile, Budget Secretary Amenah Pangandaman, who chairs the Development Budget Coordination Committee, finds it rather necessary to accelerate inclusivity programs, provide more targeted social services, and develop southern regions.
Various government agencies have already submitted budget requests for review by the DBM’s Preliminary Executive Review Board.
The DBM will finalize the budget under the National Expenditure Plan and Budget of Expenditures and Sources of Financing, which will be presented to President Marcos and his Cabinet members for approval. (ANGEL F. JOSE)
